Virgin Money profit jumps 41% in 2016

LONDON--Virgin Money Holdings (UK) PLC (VM.LN) on Tuesday said market-beating growth in core mortgages, savings and credit card businesses has led to a sharp jump in 2016 earnings and the company remains on track to sustain a double-digit return on equity in 2017.

The financial services company said pretax profit for year ended Dec. 31, 2016, grew 41% to 194.4 million pounds ($241.63 million), from GBP138.0 million in the year ago period, on a total income of GBP586.9 million and GBP523.5 million, respectively.

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